Thursday, 7 April 2011

From UCB to NRM House

New information suggests that the buidling that used to be the headquarters of the defunct Uganda Commercial Bank could soon change hands and become the NRM or Movement House.
It is not easy to get documentary evidence to this but sources usually prividleged to insider dealings of the NRM and the government, say that " things are cooking" and that city tycoon Karim Hirji could sell the building to the ruling party.
It is said that the tycoon is reportedly looking for the buyer because the building is not giving him returns. Others say its the NRM that has asked the tycoon to surrender the building for it to be turned into the party headquarters.
Part of the reasoning is that it would be good for NRM to take the House so as to dwarf the nearby Uganda House, which belongs to the Opposition UPC party. The latter boasts as the only party with a base as it picks handsome cash from the estate.
The NRM party has been toying with an idea of building a party headquarters. Some said land had been obtained in the city outskirt of Nsambya while others said a plot Opposite the controversial Shimoni land was been acquired.
Funding was reported to be secured from China and other well-wishers. However, no Movement in that direction has taken place.
Now, I have been confidentially told that the top guns of the party want the imposing former UCB now Cham Towers.
Some believe that Karim wants to sell but the critics say that the building is actually going to the real owners officially. To the critics, Karim was a conduit by the ruling party. There is, however, no evidence yet.
During the sell of UCB, there was too much controversy on who really was the right buyer. Experts then argued that the lowest bidder took the deal hence the govenment was cheated as Stanbic bank took over. The bank later sold to Karim who now wants to give to the NRM party.
Money for the proposed purchase will reportedly come from the NSSF and that is why Richard Byarugaba, the current MD was given the job. Byarugaba is close to the Security Minister and NRM Secretary General Amama Mbabazi who is reportedly spearheading the Cham Towers project.
It is the failure to Cooperate with Mbabazi that led to the jailing of David Chandi Jamwa after he later tried to implicate Mbabazi in a letter to the President regarding the Temangalo theft.
The NRM house project was meant to start during Jamwa's time but matters got worse. It is anticipated that something will happen before 2016 and Byarugaba must cooperate and surrender the Workers savings to the cause. We keep our ears to the ground.